Nigerian Equities Gain N3.205 Trillion in Bullish Run

The Nigerian equities market returned to a bullish trend, gaining N3.205 trillion in market capitalization, which increased from N143.969 trillion to N147.174 trillion. The NGX share index appreciated by 4977.51 basis points, closing at 228,579.80 points compared to the previous day's close of 223,602.29 points.

Despite a negative market breadth with 40 decliners against 39 advancers, medium and highly capitalized stocks such as Aradel PLC and WAPCO contributed significantly to market activity, resulting in a year-to-date return of 46.90 percent. Notable gainers included FTN Cocoa and WAPCO, which closed at N39.60 and N324.50 per unit, respectively.

Conversely, UBA topped the losers' chart with a 10 percent drop, closing at N44.50 per unit. Trading volume reached 302.732 million shares, representing a 50.02 percent decrease from the previous day, with a total value of N68.238 billion across 72,886 deals.